ATLANTA, GA | Visa recently bestowed two of its prestigious Service Quality Performance Awards to WorldPay US, recognizing the best-in-class payment acquirer's exceptional operational performance: the 2011 Lowest Fraud Chargeback Rate and the 2011 Lowest Non-Fraud Chargeback Rate.
The awards honor WorldPay's commitment to merchant education and transaction monitoring, with a focus on minimizing costly chargebacks and maximizing service quality for its customers.
In 2011, WorldPay's chargeback rates were 1% better than the industry average, which correlates to a reduction in the overall cost for customers. "What this 1% means, for example, is that for a merchant who processes an annual volume of $100,000, WorldPay could save that customer, on average, $1,000 a year," said Tony Catalfano, President and CEO of WorldPay US. "Keeping costs down and taking the complexities out of the chargeback process are just two of the many ways we help our customers." "We are honored to be recognized by Visa as a leader in our industry and we look forward to continuing to provide our customers with award-winning service," Catalfano added.
The awards were presented to Tony Catalfano, President and CEO of WorldPay US, by Lori Ravesteijn and Andrew Sincere of Visa's Global Signature Client Support division. The Visa Service Quality Performance Awards were established in 1992 to recognize exceptional performance by payment card issuers, acquirers and processors. To qualify for these awards, businesses must have met minimum transaction processing thresholds and remained in good standing with Visa.
WorldPay is a global card payment acquiring business operating in over 30 countries which allows customers to accept card payments both at point of sale and over the internet. The company offers services across the entire payment value chain, including transaction capturing, merchant acquiring and transaction processing.